The Federal Reserve is the U.S. central bank, created by the Federal Reserve Act of 1913 to establish a monetary system that could respond effectively to stresses in the banking system. The system includes 12 Regional Federal Reserve Banks, each established in 1914. Each serves a specific geographic region and operates independently within the framework of the Federal Reserve System.
The Federal Reserve System is made up of three key components:
- Board of Governors – Federal agency located in Washington, D.C., consisting of seven members appointed by the President and confirmed by the Senate.
- Federal Reserve Banks – Twelve regional banks, each serving a specific district.
- Federal Open Market Committee (FOMC) –12 voting members from around the System serve and help set crucial U.S. monetary policy.
The Federal Reserve System contributes to the learn-and-work ecosystem by helping shape the conditions under which people learn, work, and grow in their careers through monetary stability, data and research, workforce development initiatives, financial services and education, and small business support.
Examples of the Federal Reserve's work include:
- Federal Reserve Education
- An initiative that provides professional development certificates, digital badges, and graduate credits for learners interested in economics.
- Investing in America’s Workforce
- An initiative that aims to build a stronger workforce to support a strong economy through reports, briefs, a national conference, best practices, and a training curriculum.
- Microcredentials in Economic/Financial Topics
Resources
Federal Reserve Education
Investing in America’s Workforce | About
Learning and Earning Digital Badges
The Federal Reserve Explained | Who We Are
